Philip Morris International Inc. has hiked its full-year guidance for the year following the strong showings reported in the third quarter of the year, the company announced in a filing.

  • Third-quarter net revenues rose by 9.1%, with smoke-free products accounting for 28.6% of total net revenues. Adjusted operating income climbed 7.4%, with adjusted diluted earnings per share of $1.55, up 4.7%.
  • The year-to-date net revenues jumped by 9.7%, with the cigarette and heated tobacco shipment volumes up 1.5%. Reported diluted earnings per share were up by 14.9% to $4.48 apiece.
  • Full-year reported diluted earnings per share forecast range was upgraded and narrowed to $5.77 to %5.82 apiece, up from the previous rates of $5.76 to $5.86 apiece.

The latest forecast indicates a projected currency-neutral increase in adjusted diluted EPS of around 13% to 14% versus the adjusted diluted EPS of $5.17 in 2020.